Placing your valuables in a private vault should provide you with peace of mind, knowing that they are protected. But not all facilities are created equal. While your goal is to protect them from theft, damage, or third-party intrusion, finding the right facility in Dubai is important.
Though Dubai is generally safe, an alleged spate of thefts and burglary incidents have been recently reported. Therefore, the demand of safe deposit box increases. Without the right level of security, vault doors, or alarm systems, your valuables may not be properly secured.
Knowing what to look for and what to ask of the facility is important before you look around. Resorting to the closest facility or one located inside your bank could cost you your valuables and peace of mind.
As you search for a safe deposit box facility, keep the following in mind.
1. Inquire about the ownership of the vault facility.
Does the storage company rent the space or do they own it? If they rent, they can pick up and leave at any time – taking your safe deposit lockers with them to another location. If you like a facility that rents rather than owns, read the fine print on the contract. What are their terms and conditions when their lease runs out? Can you break the contract and take your belongings or will they move your belongings with them? For extra safety, deal with the facility owners so you know your valuables will remain at the same place for the entire rental period, and that can easily turn into years.
2. What type of security does the facility have?
Ideally, you want three layers of security and some options include personal access card, biometrics, such as your fingerprint or iris scan, and physical keys. Are there security guards 24/7? Banks only provide security guards during operating hours which is during the day, but none at night.
3. What type of vault door do they use?
Is it of sound structure so that it protects your valuables from all threats including fire and flooding? Determine which brand and grade doors are suitable for your peace of mind when protecting your valuables. A minimum of grade VI is required.
4. What alarm systems do they use?
Also, what are the procedures? Find out if the facility uses CCTV and 24/7 alarm monitoring. Advanced facilities also provide motion and seismic detectors. Do they keep video footage of everything that occurs in the facility? Is their alarm system connected to the police and are the police immediately notified of wrongdoing?
5. Do they offer any insurance protection?
Most banks offer none but some private vaults do. Make sure they offer coverage that is suitable for your needs, you can always request extra coverage to give you further peace of mind.
Ask each of these questions when looking for a storage facility for your valuables. Safe deposit lockers and private vaults should protect your valuables. Paying higher prices doesn’t mean your valuables are any safer. Do the legwork and ask the questions to ensure you get the protection your valuables need. If you are unsure about a facility, it’s best to skip it. There are a few places you can store your valuables, some of which are better than others – find the one you’re comfortable with and protect your most prized possessions.